Mayor Brings Together Members of Financial Sector as Advisors to Spur and Support the Public/Private Economic Development Happening in Pawtucket
PAWTUCKET ??? Mayor Donald R. Grebien brought together members of the financial sector from Pawtucket, the Blackstone Valley and greater Rhode Island to create a Financial Advisory Team.
These financial sector professionals are willing to bring their years of experience to Pawtucket. They will support and advise on public/private economic development happening in Pawtucket.
The residents of Pawtucket have seen significant improvements financially as well as their quality of life benefited over the last several years. Beginning with improved bond ratings to building up the financial reserves which have continued to control the need to increase the tax burden on Pawtucket residents and businesses.
The continued growth of new businesses and developments will bring in new revenue and sustainable growth to our city.
These individuals will add their financial experiences and perspective. One of the first tasks of this advisory group will be to analyze and assist the City???s with their bond portion of the new Ballpark at Slater Mill. The Pawtucket Red Sox have committed to over 50% ($45 million) of the cost for a new stadium, and any construction cost overruns. The State has committee to $23 million and the City committed $15 million for the land acquisition. All costs will be paid for through existing and new revenue generated through the ballpark and area development .
Anyone who does not use or attend the ballpark will not pay for it.
“I’m excited that these experienced individuals have committed to work along side us here in Pawtucket. The City has improved its financial structure over the past several years, but still faces the potential of loosing the PawSox and the economic benefit it brings to Pawtucket and Rhode Island. We???ve reached a fair agreement with the team that preserves this family-friendly asset for our community and Rhode Island,??? said Mayor Grebien.
???I have always kept the best interests of our taxpayers at the forefront of all discussions. With that in mind, and with so many valued and knowledgeable financial institutions around us, I want to use their expertise as we move forward with legislative hearings, approvals, and future projects in the City.???
The group will provide feedback and ideas regarding the City???s bond commitment and payments, tax structures for the land, and revenue enhancements.
Members of the group include: J
an Brodie, Executive Director, Pawtucket Foundation
John Gregory, President, Northern Rhode Island Chamber of Commerce
George Charette, President, Pawtucket Credit Union
Gary Furtado, President and CEO, Navigant Credit Union
Patrick Murray, President and CEO, Bristol County Savings Bank
Bill Hatfield, President, Bank of America Rhode Island
Kevin Tracy, Senior Vice President and Market Executive for Business Banking, Bank of America Rhode Island
Joseph MarcAurele, Chairman and Chief Executive Officer, Washington Trust
Michael Clarkin, Senior Vice President, Corporate Sales Manager, Washington Trust
Bintou Chatterton, Vice President, Chatterton Insurance
Lisa Ranglin, President, RI Black Business Association
Brian Goldner, CEO, Hasbro
Keith Kelly, President, Citizens Bank
Support provided by the City of Pawtucket:
Donald Grebien; Mayor
Antonio Pires, Director of Admin/Public Safety Director – City of Pawtucket
Joanna L???Hereaux, Finance Director, City of Pawtucket
Shaun Strobel, Treasurer, City of Pawtucket
Jeanne Boyle, Commerce Director, City of Pawtucket
Lauren Greene, Communications, City of Pawtucket